APSCo figures show strong increase in permanent finance workers

The latest figures from the Association of Professional Staffing Companies (APSCo) showed that the financial services sector was one of the strongest in terms of hiring activity in the 12 months to June 2018.

The figures, which focus on professional recruitment, also revealed an increase in permanent workers across the UK, with a year-on-year rise of 9%.

Strong

While hiring activity slowed down in other sectors, growth was strong in the financial services sector, with permanent placements rising by 13% in the 12 months ending in June 2018.

Demand for permanent professionals and contractors in the financial services sector was also strong, with an increase of 4% and 21% respectively.

The figures showed that the contract market slowed down, with the overall number of contractors out on assignment dropping by 17% year-on-year in the 12 months to June 2018. However, finance was one of stronger performing sectors in terms of contract professionals, with the number of professionals out on assignment rising by 1% over the same period.

Median salaries across all of APSCo’s core sectors also increased over the same period, with a year-on-year rise of 1%.

Resilience

Commenting on the figures, Ann Swain, chief executive of APSCo, said: “Considering the level of uncertainty that the UK continues to contend with, the current strength of the professional jobs market is a positive indicator of wider resilience. Economic growth is better than expected, overall employment levels are at a record high and the signs are now positive that the AI revolution is creating more jobs than it is destroying.”